Social security for 42-year-old flexible employees is not cost-effective

A netizen asked such a question. I am 42 years old this year. Is it a little late to pay social security now? Did I get very little after retirement? He added that some people say that it is a bit late to pay social security over 40, which is not cost-effective. Unless you can live to be 100 years old, you might as well deposit it in the bank. Is it true?/You don't say.

Well, it's a little late to start paying social security at the age of 42, but it's still worth paying. According to the current retirement policy, men retire at the age of 60 and now pay social security at the age of 42. At the age of 60, you can pay 18 years, meet the minimum payment period, and you can receive a pension. The retirement age of female flexible employees is 55 years old. From now on, they can pay 13 years, but they don't pay 15 years. Then they need to retire at the age of 57 and receive a pension two years later, but this is still earlier than the time to receive a resident pension.

To answer your second question, when you pay social security at the age of 42, the accumulated payment period will not be long, which will lead to a low level of personal pension. However, individuals can completely raise the level of payment to make up for the lack of payment period. Moreover, the lowest employee pension is about the level of 800 yuan, which is much higher than the residents' pension.

Isn't it worthwhile to pay social security at the age of 42? Why not keep it in the bank? Let me answer your question again. Compared with the way banks save money, pensions are more economical and reliable, because pensions are not only collected for life, but also adjusted according to factors such as rising prices, which is more secure for the elderly.

The last question is, do you have to wait until 100 to pay social security? No, the longest time for flexible employees to participate in social security is about 10 years, which means that when you retire at the age of 60, you can generally return to your capital at the age of 70.

Others ask, if you quit after paying social security 15, can you still get a pension at retirement age?

That's right. After leaving the company, the social security was paid off, but the old-age insurance 15 years has been paid. Can I get a pension after retirement? This depends on whether the policy has changed. If you follow the current retirement policy, you are eligible for a pension. However, if you delay the implementation of the retirement policy and adjust the minimum payment period of the old-age insurance, then you may not be able to receive the pension.

As you said, the post-employment social security fee is about 1 000 yuan, which should be pension insurance and medical insurance. Together, the cost of one month is about 1 000 yuan for the whole year. For laid-off workers, it is indeed a big expense, and it is also possible to choose to stop paying. However, after the economic conditions improve, you can continue to pay, and you don't have to think that paying social security 15 years is enough.

Because the payment period of 15 years is only the minimum requirement, according to this standard, the pension will be less, and it is difficult to rely entirely on it to support the elderly. In addition, if you keep paying, you can't continue to enjoy medical insurance benefits, which is also not guaranteed for individuals.

Therefore, after leaving the company, it is recommended not to abandon the insurance directly, but to join the insurance as much as possible when the economic conditions permit, so as to strive for better treatment after retirement.